HAUD331-1 (Audit Planning, Tests of Control and Substantive Procedures Answers

Background: The role of an auditor and the expectations of the general public differ tremendously. As an auditor, there are certain roles and responsibilities that are required to be performed. However, the general public does not understand the role and  =responsibilities of the auditor, which results in specific expectation gaps between the parties. Required: (20 marks) 1. Explain the expectation gaps between the auditor and […]

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You are the Financial Accountant at Blue Sky Ltd Answers

QUESTION (25 marks) You are the Financial Accountant at Blue Sky Ltd. The company started operating on 1 April 2021 and has a financial year-end of 31 March. You are in the process of creating a template to calculate the company’s deferred tax balance and movement that can be used in future years. The following information is available: • Land was purchased for R2 500 000 […]

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The impact of AI on accounting practices Answers

QUESTION 1 (20 marks) We are living in a world that is risky, volitile and uncertain. A state of crisis is nowadays a normality facing all types of organisations. The world is more digitally connected than ever before. As a result, there are multiple threats in the world, such as organized crime, nation-state actors, activism, hackers and “hacktivism” – combining the words “hack” and “activism” […]

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Liam Harrington, a 62-year-old South African resident Answers

QUESTION (25 marks) Liam Harrington, a 62-year-old South African resident, plans to emigrate to New Zealand on 15 December 2023 after he and his family went through a traumatic experience when they were hijacked and brutally injured. Below is a list of Liam’s assets and the market value of these assets on the date of emigration. Liam will sell the rest of his assets at […]

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Tortoise Ltd acquired a 60% controlling interest Answers

QUESTION 1 (35 marks) Tortoise Ltd acquired a 60% controlling interest in Snail Ltd on 1 July 2021 when the retained earnings of Snail Ltd was R175 000 and its share capital R50 000. Rabbit Ltd acquired a 75% controlling interest in Tortoise Ltd on 1 July 2022 when the retained earnings of Tortoise was R235 800 and its share capital R100 000. The share […]

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Computer Literacy Advanced (HCLT108-1) Assignment Answer

Question 1 [20 Marks] Background: Your friend Nina’s baby clothing business is growing, but sales are still recorded in a book. You have decided to showcase acquired skills using Microsoft (MS) Access databases and develop a database for the clothing shop. You have identified several entities from your research on the operations of the clothing shop and decided to include a customer, product and sales […]

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Project Management (HBMN331-1) Assignment Answers

QUESTION 1 [20 MARKS] “Practitioners and academics alike are interested in stakeholder management as a crucial strategy for achieving project success” (Francisco de Oliveira & Rabechini Jr, 2019). Required: • Write an essay in which you assess the approaches to managing project stakeholders, including methods for resolving conflicts of interest, establishing effective communication channels, and how these approaches affect the success of projects and stakeholder […]

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James Biggs is a new Trainee Auditor for Arthur Panders Answers

QUESTION 1 (20 marks) James Biggs is a new Trainee Auditor for Arthur Panders Incorporated. He has just completed his three-year degree and is very excited to join the firm. His father is the CEO of Basic Furniture (Pty) Ltd, and he indicated to Chester, one of the Partners of Arthur Panders, that Basic Furniture (Pty) Ltd is currently looking for auditors. Chester is very […]

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Fixbox Ltd (“Fixbox”) and Gearup Ltd (“Gearup”) are two companies Answers

QUESTION 1 (63 marks) Fixbox Ltd (“Fixbox”) and Gearup Ltd (“Gearup”) are two companies that sell tools. Both entities have a 31 December financial year-end. The following trial balances were obtained from the financial records of Fixbox and Gearup for the financial year ended 31 December 2023: Trial balance Fixbox Ltd (R) GearupLtd (R)   DR CR DR CR Ordinary share capital (R1 each for all […]

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Principles of strategy, risk and financial management techniques (HFMN230-1)

QUESTION 1 (59 marks) Mr. James Storm is an investment consultant employed at Standard Peak Ltd (“Standard Peak”). Each investment consultant of Standard Peak is allocated their own portfolio of existing and new clients. Accordingly, Mr James Storm has also been assigned a portfolio of clients to assist. The following clients allocated to Mr James Storms currently have queries and require assistance: CASE 1: MRS […]

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